Precision Drilling (PDS) to Release Quarterly Earnings on Thursday

Precision Drilling (NYSE:PDS – Get Rating) (TSE:PD) is scheduled to be releasing its earnings data before the market opens on Thursday, April 28th. Analysts expect Precision Drilling to post earnings of ($0.66) per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Precision Drilling (NYSE:PDS – Get Rating) (TSE:PD) last announced its quarterly earnings results on Thursday, February 10th. The oil and gas company reported ($1.63) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.28) by ($0.35). Precision Drilling had a negative return on equity of 13.90% and a negative net margin of 18.08%. The company had revenue of $295.20 million for the quarter, compared to the consensus estimate of $285.08 million. During the same quarter last year, the company posted ($2.10) EPS. The company’s quarterly revenue was up 46.4% compared to the same quarter last year. On average, analysts expect Precision Drilling to post $-3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Shares of Precision Drilling stock opened at $76.86 on Thursday. The stock has a fifty day simple moving average of $66.23 and a 200 day simple moving average of $48.99. Precision Drilling has a 12-month low of $24.50 and a 12-month high of $85.29. The company has a market capitalization of $1.04 billion, a P/E ratio of -7.20 and a beta of 2.67. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 0.90.

A number of institutional investors and hedge funds have recently modified their holdings of PDS. Marshall Wace LLP purchased a new stake in Precision Drilling during the 4th quarter worth about $61,000. CIBC World Markets Inc. lifted its holdings in Precision Drilling by 11.7% during the 4th quarter. CIBC World Markets Inc. now owns 6,787 shares of the oil and gas company’s stock worth $240,000 after purchasing an additional 710 shares in the last quarter. Invesco Ltd. lifted its holdings in Precision Drilling by 11.5% during the 4th quarter. Invesco Ltd. now owns 17,196 shares of the oil and gas company’s stock worth $609,000 after purchasing an additional 1,773 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Precision Drilling during the 4th quarter worth about $1,024,000. Finally, Morgan Stanley lifted its holdings in Precision Drilling by 60.2% during the 2nd quarter. Morgan Stanley now owns 132,802 shares of the oil and gas company’s stock worth $5,538,000 after purchasing an additional 49,910 shares in the last quarter. 43.10% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages recently issued reports on PDS. Royal Bank of Canada upped their price target on Precision Drilling from C$71.00 to C$81.00 in a report on Friday, February 11th. Zacks Investment Research upgraded Precision Drilling from a “sell” rating to a “hold” rating in a research note on Wednesday, January 12th. StockNews.com initiated coverage on Precision Drilling in a research note on Thursday, March 31st. They issued a “hold” rating for the company. TD Securities upped their price objective on Precision Drilling from C$75.00 to C$85.00 in a research note on Friday, February 11th. Finally, Stifel Nicolaus upped their price objective on Precision Drilling from C$75.00 to C$80.00 in a research note on Wednesday, February 16th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $81.82.

About Precision Drilling (Get Rating)

Precision Drilling Corporation, a drilling company, provides onshore drilling, completion, and production services to exploration and production companies in the oil and natural gas and geothermal industries in North America and the Middle East. The company operates in two segments, Contract Drilling Services; and Completion and Production Services.

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